London / AFP French oil and gas company Total officially launched a project off Britain’s remote Shetland Islands on Monday, hailed by London as a “vote of confidence” in the flagging Scottish North Sea oil and gas industry. The Laggan-Tormore fields are located 600 metres (1,970 feet) under water off Britain’s northernmost outpost. They began production on February 7 ...

  Bloomberg Royal Philips NV is seeking to raise as much as €970 million ($1.1 billion) from the initial public offering of a 25 percent stake in its lighting unit in Amsterdam after a private sale process didn’t result in a deal. Philips is planning to sell 37.5 million shares at a range of between €18.50 and €22.50 per share, ...

  Bloomberg Russian assets, which are among the most volatile in the world, are bringing hedge fund managers the best returns in emerging markets. Funds with a geographical focus on the country have gained an average 29 percent since the start of 2015, more than any others geared toward major developing nations, according to industry tracker eVestment. That’s 8 times ...